India office market records highest-ever quarterly leasing despite global headwinds
- IBEF
- April 8, 2026
The Indian office real estate market registered its strongest-ever quarterly performance in the March quarter of 2026, registering 29.9 million square feet of leasing across the top eight cities despite the prevailing geopolitical concerns and macroeconomic challenges. This has been an increase of 6% from the previous quarterly peak achieved in March 2025. These factors have made it apparent that the commercial real estate market in India is resilient, and it is becoming increasingly significant as a global business destination. This is because GCCs, Indian corporates, and flexible workspaces were among the leaders driving the momentum, with Grade A office buildings accounting for a 93% share of all transaction volumes.
The significant factor behind the leasing momentum has been the consistent growth of GCCs and large local enterprises in Bengaluru, Hyderabad, Delhi-NCR, Mumbai, and Pune regions, driven by robust hiring programs, digitisation strategies, and India’s cost-competitive talent ecosystem. The stellar performance in the quarter, despite the volatile global environment, has strengthened confidence in India’s office market fundamentals. This will provide a boost to rental stability, new supply initiatives, and the growing importance of India as the location of choice for setting up capability centres and innovative service operations of global firms.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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